This page has been archived and commenting is disabled.
Germany's Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed
Three weeks ago, when looking at the latest NY Fed data of foreign gold held at the largest central bank gold vault in the world, we showed that in the month of November not only was a near record amount of gold withdrawn from the NY Fed, which at 42 tons was the single biggest monthly outflow at the NY Fed in over a decade...
... but that though the end of November, all of the Netherlands' 122 tons of gold withdrawals had been fully accounted for. This brought up an interesting question:
"... net of the Netherlands withdrawals, there is some 44 tons of extra gold that has been also quietly redeemed (by another entity). The question is who: is it now the turn of Austria to reveal in a few weeks that it too, secretly, withdrew some 40+ tons of gold from "safe keeping" in the US? Or was it Belgium? Or did the Dutch simply decide to haul back some more. Or did Germany finally get over its "logistical complications" which prevented it from transporting more than just a laughable 5 tons in 2013? And most importantly, did Germany finally grow a pair and decide not to let "diplomatic difficulties" stand between it and its gold?
We now know the answer, and it was, indeed, the latter with confirmation coming from the Bundesbank itself. As the German Central Bank announced earlier today, after withdrawing an embarrassing 5 tonnes of gold from New York in 2013, its rate of repatriation soared, and in what appears to have been just the past two months, has transferred a whopping 85 tonnes of gold from 80 feet below street level at Liberty 33 back to Frankfurt!
The Bundesbank successfully continued and further stepped up its transfers of gold last year. In 2014, 120 tonnes of gold were transferred to Frankfurt am Main from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York. "Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," said Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank.
The Bundesbank took advantage of the transfer from New York to have roughly 50 tonnes of gold melted down and recast according to the London Good Delivery standard, today's internationally recognised standard. "We also called on the expertise of the Bank for International Settlements for the spot checks that had to be carried out. As expected, there were no irregularities," said Mr Thiele.
According to its new gold storage plan, unveiled in January 2013, the Bundesbank will be storing half of Germany’s gold reserves in its own vaults from 2020 onwards. This necessitates a phased transfer to Frankfurt am Main of 300 tonnes of gold from New York and all 374 tonnes of gold from Paris.
Since the transfers began in 2013, the Bank has relocated a total of 157 tonnes of gold to Frankfurt am Main - 67 tonnes from Paris and 90 tonnes from New York. This is equivalent to roughly 23% of the total quantity to be transferred. The following table gives an overview of the gold that has been transferred to date.
As at 31 December 2014, the Bundesbank's gold reserves were stored at the following locations.
And the punchline:
The Bundesbank assures the identity and authenticity of German gold reserves throughout the transfer process - from when they are removed from warehouses abroad until they are stored in Frankfurt am Main. As soon as the gold was removed from the warehouse locations abroad, Bundesbank employees cross-checked the lists of bars belonging to the Bundesbank against the information on the bars removed. Finally, once they arrived in Frankfurt am Main, all the transferred gold bars were thoroughly and exhaustively inspected and verified by the Bundesbank. When all the inspections had been concluded, no irregularities came to light with regard to the authenticity, fineness and weight of the bars.
A curious amount of precautions and safeguards when transporting the "safe" and "untainted" gold held at the NY Fed to Frankfurt. Almost as if the Bundesbank, gasp, did not trust the quality and content of the NY Fed-held gold, nor its well-meaning intentions.
Ironically, it was exactly one year ago that we wrote "Germany Has Recovered A Paltry 5 Tons Of Gold From The NY Fed After One Year" in which we wrote:
The official explanation was as follows: "The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly." Additionally, the Bundesbank had the "support" of the BIS "which has organized more gold shifts already for other central banks and has appropriate experience - only after months of preparation and safety could transports start with truck and plane." That would be the same BIS that in 2011 lent out a record 632 tons of gold...
Welt goes on to "debunk" various "conspiracy websites" that the reason why the gold is being melted is not to cover up some shortage (and to scrap serial numbers), but that the gold is exactly the same gold as before. Finally, to silences all skeptics, the Bundesbank says that "there is no reason for complaint - the weight and purity of the gold bars were consistent with the books match." In conclusion, Welt reports that in 2014 "larger transport volumes" can be expected from New York: between 30 and 50 tons.
Welt was off by just 50% with the full 2014 repatriated amount hitting 85 tons in what appears to have been a year-end scramble following the Netherlands repatriation shocker. And, as it turns out, all it took for the Bundesbank to send its repatriation amounts surging is for the Dutch to show it how it is done: i.e., by plane because crossing the Atlantic with a Brinks' truck full of gold certainly presents some "logisitcal challenges."
Sarcasm aside, it is quite clear that "logistical difficulties" is merely a politically correct strawman. Recall the real reason for the paltry repatriation by Buba in 2013, as explained by Deutsche Bank two months ago:
... the gold community paid great attention to the decision of the German Bundesbank to “bring German gold home”. At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties. Yet diplomatic difficulties are more likely to be the chief cause of the delay, especially seeing as the Bundesbank has proven its capacity to organise large-scale gold transports. In the early 2000s, the Bundesbank incrementally repatriated 930 tonnes of German gold held by the Bank of England.
Which leads us to the only relevant question: now that the "diplomatic difficulties" have been overcome and the Bundesbank is back on track to repatriating precisely the right amount of gold from the NY Fed to indicate that it has far less faith in the US central bank than it did when it was barely conducting any transfers in 2013, just how worse as the diplomatic difficulties now? We expect to get at least a partial answer on Thursday when Mario Draghi finally announces his long-overdue €500 billion QE program, with Bundesbank's Jens Weidmann, sitting quietly in a corner, and ignored by the ex-Goldman head of the ECB, contemplated just how much more, if not all, gold (there is still some 517 tonnes of gold left to be repatriated to Germany from NY and Paris) he should withdraw now in preparation for the "next steps"?
One thing is certain: Germany sends its kindest gratitude to Ukraine, whose gold, now long gone, is most likely to be found in a far safer, and remelted, state somewhere in the bowels under Wilhelm-Epstein-Straße, number 14 in Frankfurt am Main.
»
- 72504 reads
- Printer-friendly version
- Send to friend
- advertisements -
World war preps.
World war or bank collapses by the dozens.
Let's see - Swiss move, Dutch peg questioned, EU QE, Russia dumping the petrodollar and Germany keeping it down low about getting their gold back. For dessert - China cracks down on margins and Japan says the party is over for them.
This is what we have found out about in the past week.
you guys remind me of Dr. Krugman. WWII was "good" for the US economy, so of course we have to stage a WWIII. very logical. as logical as broken windows and Invasions from Mars
that we don't live in the same setup as between WWI and WWII... ah, don't get entangled in those pesky facts
WWIII will be cyber/assymetric, if it actually goes live.
interesting new movie played on Das Erste last week (especially so in context of recent "Islamic" terror events in Paris)
More of the "lone wolves" warfare, but with more serious environmental and human health repercussions:
Man, I'll bet the review was awesome.
Prolly woulda sucked in English.
go back to watching fox news
Run it through google translate and see what comes out!
@ BandGap,
"Currency wars, trade wars, World Wars."
-Gerald Celente
Danish peg questioned. Not Dutch.
If the Dutch think of decoupling from the Eur -- all hell will break loose.
I stand corrected, but sit down to rest.
From a broader point of view it looks like a lot of people/nations are either scrambling to assemble a firewall or trying to shore up a defensive position before even bigger news hits. Like seeing the tsunami and knowing you can't outrun it.
I wonder how bad things are in Ukraine, and other parts of the world, for the people.
Dutch peg -- converted from clogs. Watch the tulip cross.
It's also an indicator of a paradigm shift in reserve currencies. I've looked into Britain, Spain, Rome, Byzantium, and the Italian city states (but not France, Portugal, or the Netherlands- which might be complicated by the rise of paper) and the pattern is unmistakable and tends to play out over decades.
"World war preps."
thus invoking the two most important and irrevocable features of gold in custody:
- a debt which has already been paid - no counterparty risk
- independent of political regimes, currencies and governments that come and go over time
long tungsten.
nobody believes, right, that Germany 'got back' the gold it once deposited - right?
Hitler Learns German Gold is Tungsten
https://www.youtube.com/watch?v=PqvDUEVbIbk
China owns 33 Liberty ST. Just saying...
f16hoser - Are you implying that China is sending gold from 33 Liberty to Germany and that we will see Germany announce that they will be joining the BRICS alliance soon?
Makes sense to me (Jim Willie concurs). Time will tell.
New vid on silver doctors with Jim Willie. Worth listening to as he did a fine job connecting the dots that have been explained here on zh.
"Do you have a timeline?"
"I don't have a timeline!"
(but I'll be sure to quote my record if events play out in my favor like I did at the beginning of the episode, though. =) )
Fuck. That's guy's nuts are tighter than Celente's when he talks.
Reeeeeeeeeealy hard to listen to, esp for 50 mins.
Yeah,,but Celente gets me every time with that white shoe boys thing.
Never gets old.
That is exactly what I'm saying. China owns the Federal Reserve. Also, let's not forget, China bought JPM Headquarters building with a really big vault 10 stories below sea level. It connects to the NY Fed.
But, what proof do we have that this transfer actually took place? AP Reuters article? CNN, FOX, ABC...? I tend to question everything now. Merkels presidency hasn't been doing good lately. Perhaps she threw her subjects a bone?
Make sure it's not LEAD!!!!
Do Germans tend to go boating a lot?
Just out of curiousity...what if a fisherman is fishing around your wrecked schooner? After all, wrecked boats attract fishes. Perhaps a wee bit of snokeling or a snag on a gold bar may prove out the folly of sunken vessels???
state/official gold, or any serious quantity of gold never travels by ships or boats. the insurance premiums are tremendous, no joke. gold uses planes and is often stored under runways
Runways?
The second casualty of war right after truth are runways. That seems an odd place to store gold, imho.
Now we know why, thanks to Ghordo. <smile>
Not to mention not being able to write it off on your taxes. :p
Das Booting, yes. Mostly in U-boats.
U-boats only got used during WWII, when Germany was unable to openly operate at sea. It is not a prefered method.
Yes but of course...
The Gold that was stolen from Iraq, Libya and Ukraine by the U.S. arm of Goldman Sachs that is now providing at a premium "good delivery" to the Netherlands, Brussels and NOW Germany!
Because if you must inflate you must also "pilfer"-ate!
Stealing gold elsewhere allows the Fed to repatriate the actual gold to these countries. Meanwhile, the Fed holds the stolen gold so there is a zero-loss of net bullion held in reserve.
Now, if I were a country thinking of dumping the Euro, I would first want my gold back in my own vaults...
"."
Well said lc
@ lakecity55,
Stealing? As in Lybia & the Ukraine?
"Borrowed."
99-year lease.
Then Re Hypothecated I assume.
Or this part: "That would be the same BIS that in 2011 lent out a record 632 tons of gold..."
The same BIS that facilitated Hildebrandt for the first couple of years when Switzerland sold off 50% of its gold a decade ago. At $300-$450/oz. What are friends for?
Not sure I believe Germany actually got the gold back. Are they going to let independent 3rd party to audit the gold reserve?
"3. Speed: Average repat tonnages for 2013 and 2014 now stand at 78 tonnes per year. In order to repatriate all German gold abroad (2,400 tonnes), Bundesbank would still take more than 30 years! And there is no guarantee whatsoever whether BuBa will continue to repatriate at the current rate of 78 tonnes per annum.
4. Transparency: Bundesbank has (again!) not given ANY proof for an actual transport from the US or France to Frankfurt. As already in 2013, Bundesbank has again melted down and recast the bulk of the Fed-bars for no obvious/plausible reason and without any witnesses! As in 2013 - "for safety reasons" we-the-owners are not entitled to even see BAR LISTS of (now destroyed) former US Fed bars nor lists of newly cast bars now in Frankfurt...
5. Volume: Bundesbank has not changed its repatriation plan from January 2013 which is not ambitious enough: only 700 tonnes are due to be repatriated by end 2020! This remains unacceptable - the German public (as opposed to Bundesbank!) wants to get ALL its gold back - i.e. not just 1,700 tonnes by 2020 - but 3,400 tonnes asap!
6. We are somewhat irritated that Bundesbank for a mere 120 tonnes of gold transport had to "make use of the help of the BIS" for no plausible reason. According to BuBa´s news release, BIS has also lent its "expertise" for the the melting & re-casting process which -again- is not plausible."
http://www.goldseitenblog.com/peter_boehringer/index.php/2015/01/19/comm...
Conspircacy theorist Eric King has also a link with the same points: http://kingworldnews.com/serious-questions-surround-germanys-alleged-rep...
BTW with regards to point 5, I live in Germany and I yet have to hear ANY German citizen claim that they want to gold back and I never heard this issue being discussed much in the media.
Most Germans, except for perhaps the older generation, have NO clue what gold is, and even IF you meet somebody who has ever seen a gold coin or bought (and sold) a gold ETF, they are totally clueless that a lot of the German gold is stored overseas.
Again this is a perfect example of GOLDBUG WISHFUL THINKING, just like the hyped Swiss Gold Referendum which turned out to be quite an anti-climax.
The operative conspiracy theory which withstands scrutiny is that different gold bugs shout the same nonsense back and forth. Supposedly the repatriation was going to be impossible since the gold was non-existant. Physical gold market would soar in price with the little gold bug followers holding great wealth from the value going up 10X. Now comes a new round of echoes for all the believers to post and swap across the interweb for the nutter friends. Price of gold has continued to decline or remain stable, depending uopn when the measuring point is set.
Some folks are taking their gold back
Germans are smart.
If anything, they're quietly buying gold on the Market.
I their place, I'd simply get the Fed to pay me for the gold they're holding, and use the funds to buy it on the open market -- at much faster rate.
Problem solved. The rest is just PR and window dressing for bozos and gullible public.
Of course they fail to mention if the serial numbers on the bars match. Maybe Germany will just keep that fact quiet.
My guess: they had the original swastikas on them...hence sending many of them to be recast!
I don't know if there is a requirement that the serial numbers match. I'd be shocked if they did. As long as they're "good delivery" I'm not sure it matters to Germany, just so long as they get what they asked for.
Well, there goes another conspiracy theory or two dashed against the jagged rocks of reality.
If you believe it.....
one way or other, someone been lying
You should try thinking beyond a 1 dimensional level (assuming that Trolls can evolve).
1.) We are taking the Bundesbank's word that this gold was delivered. No 3rd party (not conected with TPTB) has verified the delivery.
2.) Bars were immediately recast and therefore even if the gold was delivered there is now no way of proving that it was the original Nazi gold taken after the war to 33 Liberty.
3.) If 85 tons can be shipped to Germany in 2014, then why did they only get 5 tons in 2013? My guess is that the Cartel had to mine / steal (and borrow from China) enough to make the delivery.
Here's my thinking:
1) You believe Paul Craig "Falseflag" Roberts when he says "there's no gold in Ft. Knox"
2) So why is it such a big stretch to believe the krauts when they say they just received 80 some odd tons of gold?
Way I see it, if you blindly push the "I believe" button for one, yo must do same for other.
How do you know this came from Ft Knox? Seems to be a long time to deliver someone else's property.
Your logic is flawed.
You push the "I believe" button based on the track record.
Paul Craig Roberts -
Former asst Sec of the Treasury under Reagan
Former Wall Street Journal Editor
Now banned from and trashed by the zio media for telling the truth.
AD HOMINEMS!!!!
I am so flattered.
It's good to see Bangalore Torpedo add so much richness to this discussion, there's so much brain food that I can hardly contain myself. I think I'll stretch for dessert. How did we ever get so lucky to be graced with your presence?
how does one think beyond one dimension, precisely?
+1Bangalore Torpedo Isn't it amazing how people who blindly follow a website claiming to be a counterbalance against the brainwashing of the mainstream media, can be so brainwashed themselves?
ZH is a nice sociological case.
But in the end, it just demonstrates that a majority of people (even on ZH) are mush-minded space monkeys just waiting for their "Tyler Durden" to preach the gospel to them.
A
Whew, this kitchen's getting hot.
Now here's some good comedy - Kass
http://www.thestreet.com/story/13013582/1/why-is-doug-kass-still-buying-gold-now-here-are-seven-good-reasons.html
Raise your hand if you believe there is 6000 tons of gold held at the NY FED. PLEASE.
However much there is, there are now 100-200 different entities who have been led to believe they own each bar.
Same goes for Ft Knox if they actually have any left, which I doubt they do.
Look at it this way. They have stonewalled a Ft Knox gold audit for like 50 years. Why would they do that if the gold were there? If the gold was there, they would have ZNN doing a prime time feature on it because it brings credibility to an incredulous crime syndicate running the western world.
"The Bundesbank took advantage of the transfer from New York to have roughly 50 tonnes of gold melted down and recast according to the London Good Delivery standard, today's internationally recognised standard."
So the NY gold had to be melted down to assure Germany they would receive 99.999 gold. Sounds like the NY gold was in coin form, perhaps the $20 Gold St. Gaudens and Liberty's stolen from Americans in 1933?
more likely that they were stamped Lybia, Ukraine or Iraq
Possibly. Or they just wanted to be sure what they got - the old fashioned way.
they lyin'....
Just in time to cast a giant gold statue of Draghi to commemorate Thursday's decision?
Three snaps in a circle for creativity.
All they have left is tungsten.
"About that German Gold"
'You expect me to talk?'
“No, Mr Bond, I expect you to die”
The journey of a thousand miles to a safe national currency starts with the first step in regaining physical possession of the country's gold.
why just "half by 2020" ?
That's easy, just reference your handy guide to precious metals conspiracy theories. Here we go...page 237, second paragraph: "there's no gold in Ft. Knox." Guess they have to lean on APMEX and stock up first.
There is no real gold in NY. It's been lent out at least 33 times over. So, any repatriation needs to be done with gold that is dug out of the ground and processed. Goldman did the same thing to the swiss. "here's an ounce. next month we'll send you another ounce. and another ounce the month after, and in just 2,667 years, you'll have one ton back. Ok. bye bye now.
We also called on the expertise of the Bank for International Settlements for the spot checks that had to be carried out. As expected, there were no irregularities," said Mr Thiele.
One must Ask himself why now ?? only the BIS knows and make no mistake about it
Peter Boehringer of of Germany's Repatriate Our Gold Movement is not impressed. KWN interview
http://kingworldnews.com/serious-questions-surround-germanys-alleged-repatriation-120-tonnes-gold/
The Morgue is looting the NYFRB from their underground tunnels.
Why Is JPMorgan's Gold Vault Located Next To The New York Fed's?http://www.zerohedge.com/news/2013-03-02/why-jpmorgans-gold-vault-larges...
That's China's vault now.
JPM has no allegence to any nation-state. We could say JPM owns China moar than China owns JPM.
Just a tradition, bitches.
ANDERSON, Calif. (AP) — Officials say a driver with United Parcel Service has been arrested on suspicion of grand theft after several packages containing silver coins and silver and gold bars worth more than $200,000 went missing during the shipping process.
You have to take precautions with gold
" ... went missing ...."
Gotta love that euphemism!
"Missing?" It's not like its a fucking set of car or house keys.
Fuck it, they should check every UPS puke's privately owned vehicle as they leave the premisis. If the vehicle's suspension is more compressed (sitting lower) than when they arrived, search and arrest them. If they are towing a boat, arrest them the moment they arrive.
just weigh them like they do with asphalt deliveries. Once on the way in, once on the way out.
I'll wager ten-to-one, the core samples prove fraud. And releases had to be signed before any testing.
Wonderful news! If you are not George Soros or Petro Poroshenko that is!!!
So they finally decided to contract the transport of their gold to someone more qualified than Sandpiper Airlines?
Fed's unchartered territory of massive QEing may begin to backfire.
There's a reason for all these countries wanting their gold back.
People of Ukraine are fighting against these Putin regime terrorists - and when Ukraine army kills them, than Putin regime propoganda channels and payed trolls calls these terorists as "Ukraine own people":
http://youtu.be/7DvouKrsMO0
People of Ukraine are fighting against these Putin regime terrorists - and when Ukraine army kills them, than Putin regime propoganda channels and payed trolls calls these terorists as "Ukraine own people":
I know f123
And it's going so well for the Anglo-American planners. Keep telling yourself you'll be on that beach front property on the Black Sea by July!
By the way?...
Is that identifying picture you use for your name supposed to be "greek keys"?... Or am I looking down at a pan of over-baked rugelach????....
Another sticky thread...another irrelevant post by freedumb123.
Not that this post would be relevant on any thread.
I have to wonder it it is REAL gold. Has any of the countries checked the validity of the gold they are receiving. I would be a tad skeptical....
You should read.
They melted it down to check - which shows you how much they trust New York.
They melted it to satisfy the crackpots such as you who would claim that they only got lead bars.
This whole episode goes a long way toward proving that getting any information about the gold market from any source is problematic at best and completely impossible at worst.
For the entirety of the last year we have been working under the impression that the Germans had announced that they didn't even want their gold back. This information came from a bloomberg article, the comments section of which contained a post from a German official debunking the article's contents in their entirety. Of course Bloomberg did nothing to correct the misinformation.
Koos Jansen covered it too. That guy really seems to be on top of his shit. He debunked the "huge Asian silver premiums" story too with shocking ease. No one in either the mainstream or alternative media seems prone to checking their facts.
Cooze Jansen is the Father of Lies...
although, on the Swiss FRanc...
https://www.bullionstar.com/blog/koos-jansen/guest-post-i-have-a-theory-...
True, I take all those sellside goldbug spindoctors who frequently appear on TM Metals or KWN with a huge pinch of salt.
They all seem to have one common agenda: sell as much gold as possible and, ironicly enough, in the process pocket as much fiat commission as possible.
Pump & dump? So far their 'predictions' have been abysmal.
"But but but HURRY, there might not be any more gold available if the price drops to $800," they shout! Hehehe, right, they also said that when gold was $1900 and yet somehow there seems to be plenty of gold available at $1200-$1300.
I thought another Dutch guy held that title.
Satan really isn't red...
He's orange.
The other interesting development is that "everyone knows" the reason Western Europe (esp Germany) sent their gold to NY to keep it safe from the Russians who were poised to invade at any moment during cold war times.
So why is Europe moving its gold closer to Russia now that they are certainly about to invade again? Are they more afraid of the US than Russia? Was the whole story bullshit to begin with?
+1 more for bringing up that very interesting subject.
Would you keep your valuable stuff in a house's about to be burned down?
I think it's more an issue of being properly positioned for a currency reset than who the enemy really is. In a currency reset everyone is on their own and individual and state responsibility become important again.
You beat me to it.
Apparently Germany is only half afraid of Russia rolling through Berlin.
Now Germany is only half afraid of their US held gold ending up in the London exchange.
They needed to be recast because the old casting was a rush job and it wasn't very attractive to potential buyers.
http://www.thetimes.co.uk/tto/multimedia/archive/00436/1297452__436546c.jpg
Is it just me, or when you start talking war, Germans, and banksters does it remind anyone of the Stooges, "You Nazty Spy?"
http://www.veoh.com/watch/v19301907YK26Ay3K?h1=The+Three+Stooges+-+You+N...
More like an episode of Rocky and Bullwinkle.
Any rational person would demand annual 3rd party audits of all custodial gold. The fact that Germany didn't, or didn't at least make a big stink about it, suggests they are complicit with whatever has happened to their gold. What they are doing now is for politics.
Or that US power is slipping away (or more accurately the banking mafia sold it).
I would certainly feel VERY embarrassed to go to the bank and only be able to withdraw 5 tonnes of gold, but I could learn to live with it.
In chess this move is called a "castle". Been a bit of it lately. Time to put some analog nodes back into your finances peeps.
Queen side?
Ha,
Well now...I wonder if they have to recast the bars to get the Ukrainian stamp off of them. LOL
Germany is going to flip to Russia. It seems indisputable at this point. After all, one thing the modern Germans are not huge fans of is Nazism, and I'm sure every morning Putin sends Merkel a courier filled to the brim with the latest crimes and infamies of the Ukrainian neo-Nazi regime.
With a choice like "commit economic and social suicide on the sides of the Americans; or create a stable Eurasian trade union" - the only thing that's befuddling me is why it's taking so long.
"...the only thing that's befuddling me is why it's taking so long."
Mutti can't make the move until she's got her gold back from the US ??
A gold backed DM here we come (!) ?
+1 - CHF could be first.
Their owned gold has not changed. Just the location.
That indicates to you that they are going to start gold support of their fiat currency?
You brought back some bad stuff from the Colorado trip.
To back your currency with gold, you need gold physical.
Germany may be planning ahead for a Grexit from the Euro and its own departure from the EZ.
They can stick the gold in their ass.
Real investigative journalism. How refreshing. Nicely done, ZH.
... reminds me of yet another "golden rule" ...
... do unto others before they do unto you ...
http://i.imgur.com/V5UCCRb.gif
If there are so terrible problems with the logistics and the diplomacy, how did such an untransportable amount of gold get to these wrong places?
Is there a hazard in travelling the Atlantic from west to east?
And, as a German guy, I tell you, that I don´t believe any official statement any more. It´s always a lie or facts are left out to give it another spin.
Maybe they had to sign a contract never to scratch deeper than 2 mm.
"It's always a lie.."
Yes.
Go long on tungsten. Should do well this year.
Being a double national, I SECOND THAT!
The Dutch got their gold back possibly as a result of their helpfulness over the MH17 inquiry. So what has Merkel done to change the US' tune?
Kept playing tough with Putin.
"Vlad, do you see the new photos I sent to your phone?"
"Err, yes...they are, uhh, hot, Angela."
"If you toe the line, you can have sum..."
"Uhh, OK, look, I have a meeting with Medvedev. Gotta go."
"I'll be waiting, my Russian stud."
I would like to see an article explaining how a return to a gold standard would actually work. Presumably a resident could trade in his or her paper money for a certain amount of gold. How would that amount be decided? Could such a system actually be implemented?
A gold standard would be a nightmare.
A silver backed U.S.Treasury note backed by silver would make sense.
The U.S. Treasury could use silver already in stock to back silver certificates redeemable in silver coin. Silver, for a dollar:silver ratio of 20:1, could be traded for gold held by the FRBNY and Ft. Knox.
a 20:1 reserve ratio would be reasonable and the USD could float relative to the price of silver.
We could keep our gold reserve unmolested and use it as assurance to back U.S. Treasury Silver Certificates, which would be redeemable for silver on demand.
We would have to make the FRBNY setttle the debt on the books....of course......all 18 trillion and force them into bankruptcy. We ccould then use the U.S Comptroller of Currency to implement the new system after we indict every member of the FR system for racketeering.
The comptroller of currency would then set the Gold:Silver ratio to be maintained.
The system could be a quasi gold standard using silver as as legal tender backed by our, unmolested, gold reserves.
Sound like a good plan?
Either a gold standard or a silver standard with gold as a reserve asset would work.
Trying to tie the two together at a fixed rate won't work. When you do that, you get gold/silver arbitrage causing metal to get removed from circ. If the free-market price does not match your fixed exchange rate, one or the other of the two metals gets converted at the "official rate", and melted down.
Be aware that the amount of silver available keeps dropping, as silver gets used up industrially. Gold would be more stable. And you can use gold in ATM / electronic transactions.
Make one unit of currency equal to a gram of gold. That would be maybe 1 Oro = about $36 right at this moment. Require banks to cough up the fucking bullion if a depositor demands it.
Since energy is most precious to humans
One unit of energy = one unit of gold
For example buy a gigajoule of energy for one milligram gold.
"We would have to make the FRBNY setttle the debt on the books....of course......all 18 trillion and force them into bankruptcy. We ccould then use the U.S Comptroller of Currency to implement the new system after we indict every member of the FR system for racketeering. "
Just a quick question..... Who owns the stockpile of U.S. gold/silver? The Fed or the citizens of the U.S.?
Just asking because I don't know. Thanks.
The US Treasury owns US gold reserve. So they say.
It's not a gold standard for domestic use, it's a means of settling international trade in the absence of a reserve currency.
Interesting story. Not enough information to figure out who is the driver of this sudden largesse (sarc) by the Fed.
Is it the State Dept buying off Germany's future compliance in any future conflicts with Russia? (As they did with the Dutch, re: MH17). Or have the Germans finally got the memo that the US Govt is actually run by a bunch of delusional psychopaths on a collision course with reality?
Interesting also that they had to melt 50 tons of gold from NY and go through an exhaustive verification process to prevent fraud. Seems likely that Ukraine, Libya, and Iraq contributed to this windfall for Germany who definitely does not trust the Fed to deliver real gold to them, at least from the tone of this article.
"Seems likely that Ukraine, Libya, and Iraq contributed to this windfall"
If that's the case, then why weren't those bars recast as soon as they were stolen?
That sounds like the Federal Reserve didn't have the bars they were supposed to have and had to use gold from elsewhere to give to the Germans - the gold stolen from Ukraine?
If it was there can't be much of it left.
hey transferring gold is complicated. And sensitive.
I mean its not like a fucking airdrop of weapons that you can basically just throw out of the bird when vaguely near the target and what does it really matter if the wrong dudes get it.
You gotta be real precise with gold, see?
You just hire guards and auditors, that's all.
The only real hold up was either the gold was missing, or the gold had a bunch of unauthorized liens on it.
+ good one. LOL
I wonder at what point are gold mass accumulations detectable by satellite gravity sensors?
Do cargo airplanes make gravity bubbles?
"Do cargo airplanes make gravity bubbles?"
That was the job of TheBernanke and his gyrocopter. TheYellen has the collective in her hands now.
My God, man, do you not realize the US has airborne Gold Detectors?
As we all know, Gold is very dense. A series of high-power X-rays can reveal the substance anywhere on Earth. By using state of the art computer power. the returning X-rays can be analyzed for the Gold Signature using a number of filters to toss out attempted shield-by-vault, burial, etc.
A secret squadron of Generation V U2s is always flying over the earth on the lookout for Gold and opportunities to snatch it.
For example, The PRC had a stash of 5000 tonnes of Gold they thought was well-hidden in a mineshaft near Mongolia. A secret FED SPEC OPS team was used to steal the precious metal right under the nose of the Chicom guards (who were later executed).
A meeting of the Central Committee of the PRC was hastily convened.
"Xi, our only defense at the moment is buying as much Au as possible and stashing it everywhere. We can use our own SPEC OPS to guard the stashes."
"We must find the secret computer used by the round-eyes to detect Gold and make a copy."
"We cannot copy the M-V U2s, sir. They have created a technology which deflects Radar around the aircraft's body. They can even use it on C130s, which they used to haul off our Gold. The FED Commandos used a new digital camouflage invention which deflects light around them, rendering them invisible to the human eye. Our guards will have to use IR/Thermal imagers to thwart them."
"Premier, my spies have informed me the barbarians have developed a Thermal/IR jammer. Our gurds will be sitting ducks."
"We must counter their moves. I am ordering Operation Peking Duck. We must thwart these round-eyes. World Hegemony depends on it! Call our Russian allies."
*****
Everyone is successfully distracted by the "CIA," "NSA," etc.
They do not relaize the Real Spook Agency is... the FRIA: The Fderal Reserve Intelligence Agency.
Long Romulian cloaking devices.
and Corbomite maneuvers...
Gravity sure as hell makes my boat sit significantly lower in the water.
The US needs some protection from Deutsche Banks number one position in derivatives.
German gold on US soil seems like a good security measure.
U.S. Dollar Game - Over
Well the Greman gold was in NY and London because of fear of the Russians stealing ti. Nowadays.. the germans feel a lot more comfortable with the Russians that they do with the neo Bolsheviks in NY and LDN.
It is really that simple.